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RETIREMENT BENEFIT PLANS | 9 Months Ended
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Sep. 30, 2024
Retirement Benefits [Abstract] |
RETIREMENT BENEFIT PLANS | RETIREMENT BENEFIT PLANS The Company has defined benefit pension plans and other postemployment benefit plans covering eligible salaried and hourly employees and their dependents. The estimated contributions to the Company’s defined benefit pension plans for 2024 range from $20 million to $30 million, of which $16 million has been contributed through the nine months ended September 30, 2024. The other postemployment benefit plans, which provide medical and life insurance benefits, are funded on a pay-as-you-go basis. The components of net periodic benefit expense recorded in the Condensed Consolidated Statements of Operations are as follows:
|  | Pension benefits |  | Other postemployment benefits
(in millions) |  | 2024 |  | 2023 |
Three Months Ended September 30, |  | US |  | Non-US |  | US |  | Non-US |  | 2024 |  | 2023
Service cost |  | $ | — |  |  | $ | 2 |  |  | $ | — |  |  | $ | 4 |  |  | $ | — |  |  | $ | — |
Interest cost |  | 2 |  |  | 5 |  |  | 2 |  |  | 26 |  |  | — |  |  | — |
Expected return on plan assets |  | (1) |  |  | (3) |  |  | (1) |  |  | (25) |  |  | — |  |  | — |
Amortization of unrecognized prior service credit |  | (1) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (1) |
Amortization of unrecognized loss |  | — |  |  | 2 |  |  | 1 |  |  | 1 |  |  | — |  |  | — |
Net periodic benefit cost |  | $ | — |  |  | $ | 6 |  |  | $ | 2 |  |  | $ | 6 |  |  | $ | — |  |  | $ | (1) |
|  | Pension benefits |  | Other postemployment benefits
(in millions) |  | 2024 |  | 2023 |
Nine Months Ended September 30, |  | US |  | Non-US |  | US |  | Non-US |  | 2024 |  | 2023
Service cost |  | $ | — |  |  | $ | 9 |  |  | $ | — |  |  | $ | 11 |  |  | $ | — |  |  | $ | — |
Interest cost |  | 5 |  |  | 15 |  |  | 5 |  |  | 37 |  |  | 1 |  |  | 1 |
Expected return on plan assets |  | (4) |  |  | (11) |  |  | (4) |  |  | (33) |  |  | — |  |  | — |
Amortization of unrecognized prior service credit |  | (1) |  |  | — |  |  | — |  |  | — |  |  | (1) |  |  | (2) |
Amortization of unrecognized loss |  | 2 |  |  | 4 |  |  | 2 |  |  | 2 |  |  | — |  |  | — |
Net periodic benefit cost |  | $ | 2 |  |  | $ | 17 |  |  | $ | 3 |  |  | $ | 17 |  |  | $ | — |  |  | $ | (1) |
The components of net periodic benefit expense other than the service cost component are included in Other postretirement expense in the Condensed Consolidated Statements of Operations.

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